Home Headlines ”Hurricane “Otis” which devastated Acapulco, is one of the five most expensive weather events in history

”Hurricane “Otis” which devastated Acapulco, is one of the five most expensive weather events in history

by Yucatan Times
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The Mexican Association of Insurance Institutions (AMIS) reported that during the first month, the estimated amount of claims that insurers received after the passage of Hurricane “Otis” in Guerrero, totaled 28,103 million pesos.

With this figure, Hurricane “Otis” continues to rise among the most expensive losses for insurers in the country. “‘Otis’ is among the five incidents for which insurers have covered the most damage, already exceeding the damage covered by the 2019 earthquakes,” commented the general director of AMIS, Norma Alicia Rosas.

Thus, insurers have received 22,667 reports. Of the total, 55% correspond to damage insurance policies, which represents 12,524 claims; while 45% correspond to car insurance, that is, 10,143 reports. The AMIS established that close to 1 in every 3 pesos of the estimated losses from damage claims corresponds to insured housing assets, that is, 7,717 million pesos.

Regarding hotel infrastructure, at least 88 hotels have been reported to be covered for hydrometeorological risks; To date, the advances that have been covered total 844 million pesos.

The first estimates of the damages were already valued are 6,916 million pesos. While, in other areas, the loss estimates are equivalent to 9,112 million pesos in insured assets of companies, shopping centers, and restaurants. The industry has also recorded damage to government infrastructure; the first valuations, which are still in progress, are at least 2,924 million pesos. Today, there are reports of 199 insured vessels, with different types of damages and coverage. In Mexico, 23 companies insure boat and airplane hulls. In Mexico, there are 32 insurers that, at the end of the first half of 2023, operate Hydrometeorological Risk coverage, and there are 30 companies that operate car insurance.

TYT Newsroom

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